Fed Up with High Rates? Here’s How a Cut Impacts Your Loans and Savings

Sep 18, 2024

Discover how the Federal Reserve's anticipated interest rate cuts could reshape your financial landscape. Learn about potential benefits for mortgages, credit cards, and auto loans, plus the impact on refinancing. The conversation also dives into recent inflation trends and household income gains, revealing how these factors affect savings strategies. Catch the latest headlines on student loans and servicing challenges, and get insights on navigating personal finance in this changing economic climate.

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Intro

00:00 • 2min

Impact of Fed Rate Cuts on Financial Products

01:54 • 7min

Recent Inflation Insights and Economic Headlines

09:19 • 2min

Inflation Trends: Understanding Gas Prices and Household Income Gains

11:07 • 2min

Navigating the FAFSA Rollout and Student Loan Servicing Issues

12:39 • 2min

Learn how the Fed’s interest rate cuts may affect your loans, savings, and investments, as well as what to do about refinancing.

How could interest rate cuts affect credit card debt? Will it be easier or cheaper to get a mortgage or auto loan with interest rates going down? Is now a good time to refinance? Hosts Sean Pyles and Anna Helhoski break down how the Federal Reserve’s expected interest rate cuts could impact your finances. They discuss the potential impact on credit cards, mortgages, and savings accounts, as well as how these changes might influence borrowing and investing decisions. Then, Sean and Anna cover some of the top money headlines from the past week, including the latest inflation figures, household income trends, and new developments in student loan servicing following the Consumer Financial Protection Bureau’s lawsuit against Navient, formerly known as Sallie Mae.

Refinancing your student loans can save you thousands or lower your monthly payment. NerdWallet has a tool to help: https://www.nerdwallet.com/refinancing-student-loans

In their conversation, the Nerds discuss: interest rate cuts, Federal Reserve, mortgage rates, credit card debt, loan refinancing, auto loans, savings accounts, inflation trends, household income, student loans, personal loans, CD rates, adjustable-rate mortgages, refinancing, high-yield savings, financial planning, debt consolidation, interest rate changes, fed rate cut, mortgage refinancing, investment strategies, federal student loans, FAFSA, CFPB, inflation report, personal finance tips, money headlines, inflation rate, mortgage interest rates, loan interest rates, private student loans, car loan refinancing, variable interest rates, economic data, financial markets, personal debt, interest rate savings, cost of borrowing, and loan interest.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.

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